Warren Buffett Donates Nearly $2.9 Billion to Five Charities

NEW YORK (TheStreet) -- Warren Buffett made his annual charity donation on Friday of about $2.9 billion in holdings of Berkshire Hathaway (BRK.A, BRK.B) as a part of his plan to gradually give away his entire fortune, Bloomberg TV's Scarlet Fu reported on "Bloomberg Markets" Friday morning.

The CEO and chairman of Berkshire Hathaway has kept his word and donated the money to five charities this year, she said.

The biggest share went to the Bill and Melinda Gates Foundation which aims to enhance healthcare, reduce poverty around the world, and improve education in the U.S.

The four other charities include Susan Thompson Buffett Foundation, Howard G. Buffett, Sherwood and NoVo Foundations.

This is Buffett's 11th consecutive year donating to five charities.

Even after his annual donations, Buffett remains the third-richest person in the world. The donations however reduced his voting power in Berkshire Hathaway to 31.73%, according to the Wall Street Journal.